Ultima Hospitality Acquires the Westin and the Aloft San Francisco Airport Hotels for $125 Million
CHICAGO, IL - November 1, 2013) - Ultima Hospitality, an industry-leading investment and hotel management company, announces the purchase, planned improvement and management of the 397-room Westin San Francisco Airport and the 252-room Aloft San Francisco Airport for $125 million.
Previously owned by Starwood Hotels & Resorts, the two hotels will move to a franchised structure under Ultima Hospitality. The Westin will undergo various capital improvements, including extensive upgrades and renovations of the guestrooms, meeting space, public space and lobby, as well as further capital infusion into the building, mechanicals and exterior.
"The Greater San Francisco economic expansion coupled with a general lack of both past and future hotel supply growth is a dynamic which has drawn us to target further investment within the Bay Area," says Nir Liebling, chief investment officer. "The airport submarket of San Francisco in particular should continue to realize outsized RevPAR growth due to the robust and diverse local demand drivers proximate to these two exceptional properties, as well as very strong downtown compression. The Westin and Aloft are our third and fourth acquisitions of 2013 and we at Ultima are excited to grow our platform in partnership with Starwood and the Starwood family of brands."
Mark Zettl, chief operating officer of Ultima Hospitality added, "sizable capital infusion at the Westin will dramatically improve the property's market share and standing within its competitive environment. We are also very excited about the addition of the Aloft brand, with its affordable, design-driven offering, into the Ultima family. These additions to the Ultima portfolio grow our platform by 649 rooms to 2,255 rooms and bring the Ultima employee count from 700 to approximately 1,000."
Opened in Q3 2012 after a multi-million dollar conversion, the Aloft San Francisco Airport boasts a 5,100 square foot lobby designed for socializing, with the brand's signature w xyz bar and re:fuel by Aloft grab-n-go pantry. The signature 'tactic' meeting room provides 670 square feet of meeting space, and splash is Aloft San Francisco Airport's pool, where guests can refresh or just relax. The entire property features free Wi-Fi.
The Westin San Francisco Airport has over 22,000 square feet of flexible meeting space, including a 5,000 square foot grand ballroom. The hotel's dining outlet, Grill & Vine, offers three meals per day and is a new restaurant concept which opened in January 2013. The hotel also includes a full service business center, a gift shop, an indoor pool and whirlpool, and a top-of-the-line fitness center.
The Westin and Aloft site occupies approximately 14 acres, including 873 parking spaces. Both properties give guests an enviable location next to one of the world's major air-travel hubs. The hotels are located in the City of Millbrae, adjacent to the San Francisco International Airport, and less than a mile from the Millbrae Caltrain commuter rail station. San Francisco is an easy 14-mile drive from the front door - or a quick ride on one of many mass-transit options nearby. For business travelers, the Westin and Aloft SFO offer access to major corporate headquarters like the California Teachers' Association, Genentech, and Walmart.com, all less than 10 miles away.
About Ultima Hospitality
Ultima Hospitality is a Chicago-based real estate investment and hospitality management group. Ultima manages both full and select-service properties, leveraging more than 150 years of experience in hospitality and commercial real estate investment/management among its senior leadership. A results-driven organization, Ultima Hospitality is a value-add investor and provides owners and investment partners with superior capital management, cost containment and extensive resources to ensure successful ownership and management in a constantly changing business environment. Ultima's current portfolio of 9 hotels and 2,255 guestrooms includes such brands as Westin, Sheraton, Aloft, Courtyard, DoubleTree and Holiday Inn Express, with Ultima being an approved management company for each. For a complete list of the company's portfolio along with more information, please visit www.ultimahospitality.com
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
